Serbia sells 55% of 18-month treasury bond issue.

By bne IntelliNews August 18, 2010
Serbia sold RSD 1.1bn (EUR 10.5mn) in 18-month treasury bills in yesterday's auction or 55% of the planned issue, according to the data of the finance ministry. The issue bore an annual interest rate of 12.6%, which is higher than 12.1% rate from the previous auction. We recall that the demand of investors for treasury bills with longer maturities has been weak over the last few months, and the government has thus announced it may borrow EUR 200mn from commercial banks to fill the budget gap. Another possibility for the cabinet is to continue issuing securities with shorter maturities at higher interest rates. The finance ministry started selling 18-month treasury bills in June 2010.

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